Dallas, Texas 04/29/2014 (FINANCIALSTRENDS) –Salesforce.com, Inc. (NYSE:CRM) was down 6.9 percent during trading on 28th April. The trigger for the steep sell off was not visible outwardly and goes counter to the 0.28 percent increase that the technology sector posted during the day yesterday. Salesforce.com, Inc. (NYSE:CRM) stock in the pats one month has been struggling to keep up its market valuation and has shed close to 11.8 percent of its share price in the past one week.
In spite of the relative weakness that the stock had displayed in the recent past, the fastest growing enterprise software firm in the cloud arena is going all out to build up its corporate image and profile in order to match its growing customer base and corporate aspirations. A big ticket demonstration of this was Salesforce.com, Inc. (NYSE:CRM) announcement earlier this month that its corporate head quarters would soon be housed in the arguably tallest building on the west coast of U.S.
The tech firms which enjoys first mover advantage in the cloud services arena disclosed that it has commissioned the building of a super tower which has been christened Salesforce Tower which will span a humongous 1.4 million square feet area and will probably have the distinction of being the tallest building on the west coast. The project is being executed by Boston Properties and Hines and once completed would house its entire employee base spread out in the bay area in this new building. The software maker plans to use 700,000 square feet of land for its own use, while letting out reminder 700,000 to other businesses.
Expressing his pride at this new development, Salesforce.com, Inc. (NYSE:CRM) Chairman and CEO, Marc Benioff has been quoted to have said that, “Salesforce Tower represents an incredible milestone in our company’s history—it will be the heart of our global headquarters in San Francisco. We founded salesforce.com in San Francisco 15 years ago and this expansion of our urban campus represents our commitment to growing in the city.”